Gildan Revises Annual Earnings Outlook Below View, Declares Dividend

(RTTNews) - Gildan Activewear Inc. (GIL.TO, GIL) has revised down its annual earnings outlook, below view.

For the full year, the company now expects adjusted income per share of $2.97 to $3.02, compared with previous guidance of $2.92 to $3.07.

On average, nine-analysts polled by Thomson Reuters expect the firm to earn $4.13 per share, for the year. Analysts' estimates typically exclude special items.

Annual revenue growth is now expected to be up low-single digits, compared with previous guidance of flat-to-up low-single digits.

This revenue outlook reflects the expiration of the Under Armour sock license deal on March 31, which has had minimal impact on the company's profitability.

Excluding the impact of this agreement, full-year revenue growth would be in the mid-single digit range.

The Board has declared a dividend of $0.205 per share, to be paid on December 16, to shareholders of record as of November 21.